StockNews.com Initiates Coverage on Culp (NYSE:CULP)

Investment analysts at StockNews.com started coverage on shares of Culp (NYSE:CULPGet Free Report) in a report issued on Sunday. The firm set a “hold” rating on the textile maker’s stock.

Culp Trading Up 3.7 %

Shares of CULP stock opened at $5.42 on Friday. The firm has a fifty day simple moving average of $5.45 and a 200-day simple moving average of $5.41. The company has a market capitalization of $68.09 million, a PE ratio of -3.23 and a beta of 1.18. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

Culp (NYSE:CULPGet Free Report) last issued its quarterly earnings data on Wednesday, December 4th. The textile maker reported ($0.29) EPS for the quarter. Culp had a negative return on equity of 22.50% and a negative net margin of 9.43%.

Insider Buying and Selling at Culp

In related news, CEO Robert George Iv Culp purchased 8,508 shares of Culp stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This trade represents a 12.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $5.55 per share, with a total value of $27,750.00. Following the completion of the purchase, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $83,250. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 31,495 shares of company stock worth $167,062 in the last 90 days. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC lifted its holdings in shares of Culp, Inc. (NYSE:CULPFree Report) by 14.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the period. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 at the end of the most recent reporting period. 75.05% of the stock is owned by institutional investors and hedge funds.

Culp Company Profile

(Get Free Report)

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.

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